Saudi Basic Industries Corp., the world’s largest petrochemical maker by market capitalisation, is in talks about a possible investment in the US to take advantage of cheap shale gas, its chief executive said.

“We are evaluating opportunities in the US in this area,” Mohamed al-Mady, Sabic’s chief executive, said in an interview. “We’d like to start with one plant, just to get ourselves in the region.”

The competitive advantage has shifted sharply since five years ago, when it appeared that global petrochemical production would be increasingly concentrated in the Middle East, to take advantage of low-cost feedstocks, or in Asia. Read More Here.